Ytl Hospitality Reit · MYX:YTLREIT
Ytl Hospitality Reit — Q4 FY2019 Earnings Presentation
51 slides from Ytl Hospitality Reit's earnings presentation, Jul 31, 2019
Slide 1: Fourth Quarter FY2019 Financial Results
Fourth Quarter FY2019 Financial Results 31 July 2019
Slide 2: Key Highlights – 4Q FY2019
KEY HIGHLIGHTS – 4Q FY2019 • Income available for distribution of RM35.8 FINANCIAL million, +6.8% q-o-q PORTFOLIO • 2.0989 sen distribution per unit (“DPU”) HIGHLIGHTS declared for 4Q FY2019 MANAGEMENT • Properties in Malaysia and Japan under master leases • 4Q FY2019 and FY2019 average occupancy ra
Slide 3: Financial performances 4Q FY2019
1 Financial performances 4Q FY2019 Pangkor Laut Resort Perak Darul Ridzuan, Malaysia
Slide 4: Financial Performance: 4Q FY2019
FINANCIAL PERFORMANCE: 4Q FY2019 1 April - 30 June 4Q FY2019 4Q FY2018 Change Total R evenue 118.7 116.6 + 1.8% - Hotel Revenue (Management Contracts) 78.0 79.0 (1.2%) (1) - Lease Rental (Master Leases) 40.6 37.6 + 7.9% Net Pr oper ty Income (NPI) 60.3 58.1 + 3.7% - Management Contracts 22.4 23.0 (2
Slide 5: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION As at 30 June 2019 As at 30 June 2018 RM ('000) Change (Unaudited) (Audited) (1) Investment properties 2,732,554 2,371,618 + 15.2% Property, plant and equipment 1,946,226 1,947,753 (0.1%) Cash & cash equivalents 148,972 155,457 (4.2%) Other assets 37,025 36,827 + 0.5%
Slide 6: DPU Performance
DPU PERFORMANCE Total DPU Quarterly Breakdown DPU (sen) 10 8.4613 7.9746 7.8938 8.0838 7.8711 7.8683 7.6359 7.3803 4Q Total Distributions* 6.4855 6.4855 1.9651 2.0989 FY2018 FY2019 3Q Cumulative 134.1 134.2 5 1.9378 1.9116 4Q 33.5 35.8 3Q 33.0 32.6 2Q 1.9917 1.9387 2Q 33.9 33.0 1Q 33.6 32.8 1Q * In
Slide 7: Revaluation Surplus of RM101 million During 4Q FY2019
REVALUATION SURPLUS OF RM101 million DURING 4Q FY2019 RM (million) JAPANESE properties RM (million) - Hilton Niseko Village (RM12.3 mil) 529 539 - The Green Leaf Niseko Village + RM2.1 mil AUSTRALIAN properties - Sydney Harbour Marriott + RM69.3 mil 1,950 1,872 - Brisbane Marriott + RM1.0 mil - Melb
Slide 8: Quarterly Financial Performances
QUARTERLY FINANCIAL PERFORMANCES FY2018 FY2019 TOTALrevenue NETproperty income RM (million) RM (million) 150 150 1.8% 134.7 132.5 129.2 125.9 120.5 113.9 116.6 118.7 100 100 3.7% 67.7 69.3 67.9 67.4 58.1 60.3 55.1 56.3 50 50 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 8
Slide 9: Quarterly Financial Performances by Country
QUARTERLY FINANCIAL PERFORMANCES BY COUNTRY 4Q FY2018 4Q FY2019 TOTALrevenue NETproperty income RM (million) RM (million) 100 100 1.2% 79.0 78.0 50 50 33.5 33.5 2.5% 31.7 31.7 23.0 22.4 73.1% 81.1% 7.1 6.2 4.1 3.4 0 0 Malaysia Australia Japan Malaysia Australia Japan 9
Slide 10: NPI for Australia in AUD and RM
NPI FOR AUSTRALIA IN AUD AND RM NPI in RM impacted by the foreign exchange effects of the weaker AUD relative to RM 1.3% 2.5% AUD (million) RM (million) 12 40 6 20 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
Slide 11: NPI for Japan in JPY and RM
NPI FOR JAPAN IN JPY AND RM NPI in RM impacted by the foreign exchange effects of the stronger JPY relative to RM JPY (million) RM (million) 180 75.1% 81.1% 8 6 120 4 60 2 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2
Slide 12: Unit Price Performance
UNIT PRICE PERFORMANCE YTL Hospitality REIT’s YTL Hospitality REIT’s Unit Price Movement & Relative Performance to FBMKLCI Unit Price Movement & Relative Performance to REIT Index (1 January 2012 to 30 June 2019) (1 October 2017 to 30 June 2019) RM % RM % 1.40 50 Unit Price Relative Performance 1.40
Slide 13: Financial performances: FY2019
Financial performances: FY2019 2 JW Marriott Kuala Lumpur, Malaysia
Slide 14: Financial Performances: FY2019
FINANCIAL PERFORMANCES: FY2019 1 July - 30 June FY2019 FY2018 Change Tota l R evenue 490.9 501.0 (2.0%) (1) - Hotel Revenue (Management Contracts) 331.5 359.9 (7.9%) (2) - Lease Rental (Master Leases) 159.4 141.0 + 13.0% Net Pr oper ty Income (NPI) 253.3 248.8 + 1.8% (1) - Management Contracts 105.3
Slide 15: Yearly Financial Performances
YEARLY FINANCIAL PERFORMANCES TOTALrevenue NETproperty income RM (million) RM (million) 2.0% 1.8% 600 300 501.0 490.9 248.8 253.3 500 250 449.7 425.1 417.7 426.3 209.6 202.9 201.5 198.9 400 200 157.0 292.0 300 150 200 100 87.1 75.5 109.8 100 80.9 50 28.3 30.1 0 0 FY2010 FY2011 FY2012 FY2013 FY2014 F
Slide 16: Financial Performances by Country
FINANCIAL PERFORMANCES BY COUNTRY FY2018 FY2019 TOTALrevenue NETproperty income RM (million) RM (million) 400 7.9% 359.9 400 331.5 300 300 200 7.6% 200 7.7% 10.9% 124.7 134.2 127.1 118.0 118.2 105.3 100 100 54.5% 64.6% 16.3 25.2 20.8 12.7 0 0 Malaysia Australia Japan Malaysia Australia Japan 16
Slide 17: Capital management
3 Capital management Tanjong Jara Resort, Terengganu, Malaysia
Slide 18: Debt Maturity Profile
DEBT^ MATURITY PROFILE Borrowings in RM Borrowings in AUD Borrowings in JPY 995.1 * 385.0 350.0 207.9 # 75.0 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Notes: ^ Excluding the effects of capitalised transaction costs. * RM equivalent based on the exchange rate of A$1.00: RM2.9029 as at 28 June 2019. #
Slide 19: Debt Profile as at 30 June 2019
DEBT^ PROFILE AS AT 30 JUNE 2019 CURRENCY INTEREST RATE α β 30 June 2019 31 March 2019 Change Borrowings^ (RM'000) 2,012,966 1,911,133 + 5.3% Total Asset Value (RM'000) 4,864,777 4,663,208 + 4.3% Gearing (%) 41.4% 41.0% + 0.4 pp Average Interest Rates (%) * - Borrowings in Ringgit Malaysia 5.0% 5.0%
Slide 20: Debt Headroom of ~RM835 million for Acquisitions
DEBT HEADROOM OF ~RM835 million FOR ACQUISITIONS RM (million) 6,000 5,700 835 5,000 4,000 3,000 2,848 Gearing limit = 835 4,865 50%* 2,000 1,000 Gearing = 2,013 41.4% (As at 30 June 2019) - Notes: Total Borrowings^ Total Assets ^ Excluding the effects of capitalised transaction costs. * Leverage lim
Slide 21: Asset management
4 Asset management Cameron Highlands Resort, Malaysia
Slide 22: Luxury Hotels & Serviced Residences in 3 Countries
LUXURY HOTELS & SERVICED RESIDENCES IN 3 COUNTRIES Malaysia (Northern) ASSET breakdown(by Country)(1) Vistana Penang Bukit Jambul Japan Pangkor Laut Resort Hilton Niseko Village Cameron Highlands Resort The Green Leaf Niseko Village Malaysia (Eastern) Tanjong Jara Resort Vistana Kuanta
Slide 23: Portfolio Valuation
PORTFOLIO VALUATION No. of Year Purchase Price Annual Lease Rental (1 ) Valuation (million) Changes since Property (2 ) Rooms Acquired (million) (RM million) FY2018 FY2019 acquisition Malaysia RM RM RM (4) JW Marriott Hotel Kuala Lumpur 578 2005 331.0 25.69 424.0 519.0 +56.8% The Ritz-Carlton, Kuala
Slide 24: Portfolio Occupancy
PORTFOLIO OCCUPANCY FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 Malaysia Under Master Leases Japan Under Master Leases Australia – – 83.1% (1) 84.2% 84.4% 86.4% 86.9% 87.8% 84.9% Note: (1) For 1 July 2012 to 30 June 2013 which includes certain pre-acquisition period as the propert
Slide 25: Master Leases Expiry Profile
MASTER LEASES EXPIRY PROFILE NETproperty income NETproperty income (% of total *) Master leases (% of total *) 40 30 32 20 10 10 10 6 5 0 2019 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2049 Note: * For 4Q FY2019. 25
Slide 26: Australia Hotel Performance (1 of 2)
AUSTRALIA HOTEL PERFORMANCE (1 OF 2) FY2018 FY2019 REVENUE per available room AUD (RevPAR) 300 253 251 252 247 0.3% 216 214 215 208 200 100 0 1Q 2Q 3Q 4Q 26
Slide 27: Australia Hotel Performance (2 of 2)
AUSTRALIA HOTEL PERFORMANCE (2 OF 2) FY2018 FY2019 Average occupancy Average daily rate (ADR) % AUD 100 1.4pp 87.7 88.7 89.1 84.2 84.5 85.8 87.2 298 292 1.3% 83.6 300 285 283 246 249 249 246 200 50 100 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 27
Slide 28: Brisbane Marriott: Before and After Refurbishment
BRISBANE MARRIOTT: BEFORE AND AFTER REFURBISHMENT BEFORE AFTER 28
Slide 29: Brisbane Marriott: Before and After Refurbishment
BRISBANE MARRIOTT: BEFORE AND AFTER REFURBISHMENT BEFORE AFTER 29
Slide 30: Brisbane Marriott: Before and After Refurbishment
BRISBANE MARRIOTT: BEFORE AND AFTER REFURBISHMENT BEFORE AFTER 30
Slide 31: Brisbane Marriott: Before and After Refurbishment
BRISBANE MARRIOTT: BEFORE AND AFTER REFURBISHMENT BEFORE AFTER 31
Slide 32: Brisbane Marriott: Before and After Refurbishment
BRISBANE MARRIOTT: BEFORE AND AFTER REFURBISHMENT BEFORE AFTER 32
Slide 33: Brisbane Marriott: Before and After Refurbishment
BRISBANE MARRIOTT: BEFORE AND AFTER REFURBISHMENT BEFORE AFTER 33
Slide 34: Appendices
5 Appendices Hilton Niseko Village Hokkaido, Japan
Slide 35: JW Marriott Hotel Kuala Lumpur
JW MARRIOTT HOTEL KUALA LUMPUR No. 183, Jalan Bukit Bintang, 55100 Kuala Address Lumpur A 5-star hotel with 578 rooms located on part of an 8-level podium block and entire 24- level tower block of Starhill Gallery together Description with car park bays located partially at basement 1 and 4 and the
Slide 36: The Majestic Hotel Kuala Lumpur
THE MAJESTIC HOTEL KUALA LUMPUR No. 5, Jalan Sultan Hishamuddin, 50000 Kuala Address Lumpur A 5-star hotel comprising Majestic Wing (original historic hotel building) with 47 luxurious suites, Tower Wing with 253 guestrooms and suites, Majestic Ballroom with seating capacity of 1,200 for banquet or
Slide 37: The Ritz-Carlton, Kuala Lumpur – Suite Wing
THE RITZ-CARLTON, KUALA LUMPUR – SUITE WING Address No. 168, Jalan Imbi, 55100 Kuala Lumpur Parcel 1: 60 units of hotel suites, 4 levels of commercial podium, 1 level of facilities deck and 2 levels of basement car parks Description Parcel 2: 50 units of hotel suites, 4 units of penthouses and 1 lev
Slide 38: The Ritz-Carlton, Kuala Lumpur – Hotel Wing
THE RITZ-CARLTON, KUALA LUMPUR – HOTEL WING Address No. 168, Jalan Imbi, 55100 Kuala Lumpur 22-storey 5-star hotel building comprising Description 251 rooms with 4-storey basement car parks Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 7 years Annual rental (2) RM21
Slide 39: Vistana Kuala Lumpur Titiwangsa
VISTANA KUALA LUMPUR TITIWANGSA No. 9, Jalan Lumut, Off Jalan Ipoh, 50400 Address Kuala Lumpur 17-storey hotel building with 364 rooms and Description 2-storey basement car parks Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 7 years Annual rental (2) RM8.61 million
Slide 40: Vistana Penang Bukit Jambul
VISTANA PENANG BUKIT JAMBUL No. 213, Jalan Bukit Gambier, Bukit Jambul, Address 11950 Pulau Pinang 17-storey Hotel Wing with 238 hotel rooms Description and 26-storey Suite Wing with 189 hotel suites with an annexed 3-storey podium 99-year leasehold expiring on 27 October Tenure 2094 Master lease ex
Slide 41: Vistana Kuantan City Centre
VISTANA KUANTAN CITY CENTRE Address Jalan Teluk Sisek, 25000 Kuantan, Pahang Description 8-storey hotel building with 215 rooms Tenure 99-year leasehold expiring on 11 July 2092 Master lease expiry 14 November 2026 Master lease remaining (1) 7 years Annual rental (2) RM6.30 million No. of rooms 215
Slide 42: Pangkor Laut Resort
PANGKOR LAUT RESORT Pangkor Laut Island, 32200 Lumut, Perak Address Darul Ridzuan 36 units of Garden Villas, 52 units of Hill Description Villas, 8 units of Beach Villas and 1 unit of Pavarotti Suite 99-year registered lease expiring on 21 May Tenure 2095 Master lease expiry 14 November 2026 Master
Slide 43: Tanjong Jara Resort
TANJONG JARA RESORT Batu 8, Off Jalan Dungun, 23000 Dungun, Address Terengganu Darul Iman Description Small luxury boutique resort with 100 rooms 60-year leasehold expiring on 4 December Tenure 2067 Master lease expiry 14 November 2026 Master lease remaining (1) 7 years Annual rental (2) RM7.35 mill
Slide 44: Cameron Highlands Resort
CAMERON HIGHLANDS RESORT By the Golf Course, 39000 Tanah Rata, Address Cameron Highlands, Pahang Darul Makmur 3-storey luxury resort with a 2-storey spa Description village block with 56 rooms and suites and a single storey building 99-year leasehold expiring on 9 December Tenure 2108 Master lease e
Slide 45: Hilton Niseko Village
HILTON NISEKO VILLAGE Address Aza-Soga, Niseko-cho, Abuta-gun, Hokkaido 16-storey hotel building with 1-storey of Description basement comprising 506 rooms Tenure Freehold Master lease expiry 21 December 2026 Master lease remaining (1) 7 years Annual rental (2) RM16.32 million No. of rooms 506 Acqui
Slide 46: The Green Leaf Niseko Village
THE GREEN LEAF NISEKO VILLAGE 1, 6 and 7, Aza-Higashiyama, Niseko-cho, Address Abuta-gun, Hokkaido 5-storey hotel building with 1-storey of Description basement comprising 200 rooms Tenure Freehold Master lease expiry 25 September 2048 Master lease remaining (1) 29 years Annual rental (2,4) JPY315 m
Slide 47: Sydney Harbour Marriott
SYDNEY HARBOUR MARRIOTT Address 30 Pitt Street, Sydney, New South Wales 33-storey hotel building with central atrium Description comprising 595 rooms including 3 levels of basement with car parking bays Tenure Freehold No. of rooms 595 Acquisition date 29 November 2012 Valuation (1, 2) AUD500 millio
Slide 48: Brisbane Marriott
BRISBANE MARRIOTT Address 515 Queen Street, Brisbane, Queensland 28-storey hotel building comprising 267 Description rooms with 3 levels of basement with car parking bays Tenure Freehold No. of rooms 267 Acquisition date 29 November 2012 Valuation (1, 2) AUD93.5 million (RM271.42 million) Notes: 1.
Slide 49: Melbourne Marriott
MELBOURNE MARRIOTT Corner Exhibition and Lonsdale Streets, Address Melbourne, Victoria 16-storey hotel building comprising 186 Description rooms with 5 split levels of car park Tenure Freehold No. of rooms 186 Acquisition date 29 November 2012 Valuation (1, 2) AUD78.5 million (RM227.88 million) Note
Slide 50: Disclaimer
DISCLAIMER This presentation shall be read in conjunction with YTL Hospitality REIT’s interim financial report for the quarter ended 30 June 2019, a copy of which is available on www.bursamalaysia.com and www.ytlhospitalityreit.com. This presentation is for information purposes only and does not con
Slide 51: Pintar Projek Sdn Bhd
PINTAR PROJEK SDN BHD 314009-W Manager of YTL Hospitality REIT 11th Floor Yeoh Tiong Lay Plaza 55 Jalan Bukit Bintang 55100 Kuala Lumpur Malaysia Tel: 603 2117 0088 603 2142 6633 Fax: 603 2141 2703 Email: ir@ytlhospitalityreit.com www.ytlhospitalityreit.com
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